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No. of Recommendations: 1
I bailed on this one at the open yesterday, once I heard of the dividend slash (yes, "cut" isn't a strong enough word). That seems to me an indication of a lack of confidence in earnings for the foreseeable future.

A quote from the last quarters conference call in August:

The current dividend yield is surprisingly over 8%. And to preempt questions about the sustainability of our dividend, let me make a few points. While the payout ratio is a bit higher this quarter, our Board has demonstrated a commitment to a consistent dividend policy. We have paid a stable or increasing dividend since our IPO, striking a balance between the need to invest in our business while also providing an ongoing and consistent return to our shareholders. Moreover, in periods of lower investment such as we're experiencing now, Textainer's ability to sustain the dividend increases, in spite of the higher payout levels.

Not any indication of any reduction coming, let alone 50%. Doesn't make me trust management here.

I wish good luck to those staying in. I think this will probably be a good turnaround stock at some point. And the stock price turnaround will probably start before it is seen in the quarterly results.
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